Thread by @BrentBeshore

All business tastes like chicken and is a recombination of previously created and seemingly unrelated business models usually paired with newly available technology.

This roundup from @firstround is a great example. Packed with ideas regardless of stage.

firstround.com/review/the-30-…

This is meant to get startup founders talking, but looks very similar to the first management call questions at @adventur_es.

I'd add: "If you could wave the magic wand, what would you change and what outcome would you create?"

Details > Theory

Keep asking "why" until you get to first principles. When it's important, default to doing the first draft.

Keeping key stakeholders informed is simple, cheap, and highly underrated. Always follow: 1) How'd we think we were going to do? 2) How'd we do and why? 3) How do we think we'll do and why? 4) How can you help?

Opportunity knocks in every business:

"Four flavors: too small, too boring, too high-end and too personally unfamiliar. Finally there’s new technology, the pockets of innovation that are hidden in growth rates or extrapolated technology curves, rather than current numbers."

True regardless of stage: “A growth-at-all-costs mindset is a recipe for out of control burn and topsy-turvy unit economics."

Recently saw a 50 y.o. business triple revs in 5 years, took $4M of profit to 0, assumed $8M of debt. Why? "Growth is everything." Now, it's screwed.

Make good swings. Praise and reward for good swings. Promote for good swings. Encourage good swings.

“You don't want to celebrate failure, you want to normalize it."

Talked with Obama's CMO for first campaign that re-wrote the rules. Asked "How'd you do it?" Expected magic. Got:

Followed a simple formula that just works. Tell them why you're contacting them, what you want them to do first, then second, then thank them. Repeat.

Pricing is almost always overlooked, ignored, or taken for granted. Good pricing strategy requires research, thoughtful testing, scrutinized outcomes, and constant reevaluation.

Easy to reduce people to simple stereotypes, then minimize or glorify. Reality is far more complicated than conclusions like this. Strength is found in a diversity of strengths.

I'd alter this by making the function time-dependent (consistency is a key variable) and clarifying self-interest as a broader question of worldview goals.

"Content," broadly defined as low-value attention grabs, is worthless. Helpful information that scales or accelerates conversation is outrageously valuable.

Don't "do social media" or "make a blog" because it's a best practice. Do it if your buyers would be helped by it.

Discerning people is arguably the most difficult task in all of business.

If you can afford it and the position commands it, multiple trusted perspectives are always better. Plus, it offers experience with group feedback.

"When we spend so much time focusing on making what’s behind a locked door so brilliant, we sometimes forget to give the user the key.”

A secret hidden in plain sight: Friction kills sales. Onramps to your product/service should be easy to find and navigate.